How to Turn Your Idea Into a Product – Unboxing Startups
| 3 minutes read
Do you know the difference between success and failure? The answer is innovative ideas and implementation. Converting ideas into a product needs time, patience, and money. Launching a product is not a big thing, but developing an effective product that helps your business grow is what every entrepreneur dreams of.
Turning Ideas Into Products is not an easy job to accomplish. You need to focus on who will be your target audience? For whom you’re developing a product? What would be the future of the product for the next five years? And much more.
Bringing invention ideas into a product isn’t an easy task. It may require a lot of homework and research to build a tangible product that helps you make money. Everyone has an idea, but only a few succeed because they divert their ideas or choose the wrong product.
In this guide, we provide the steps you can take to bring a product from ideas to reality; in the end, you will understand what things are required if you want to convert ideas into a product. All we need from you is kindly read till the end.
1. Brainstorm Ideas
The first step towards successful product development is brainstorming different ideas. Consider all aspects of the products and see how your product demand will be in the next couple of years. Brainstorm different ideas like how your product can solve the problem of the targeted customers? Try to collect ideas from your friends or family members too. Once you have a list of ideas, you can think of suitable opportunities.
2. Do Market Research
Performing and conducting market research can help you learn about the buying nature of the customers. What do people like? At what time the demand goes high? Who are your competitors? And much more. You can also ask the customers what they are missing from the existing products and what they want? This will give you an idea of what next things to consider in your final products. Overall a Product is Important for Startups that could lead to growth.
Research market trends and get familiar with copyright and intellectual property law about your niche.
3. Make a Prototype
A prototype is an initial model for a product. Building a prototype for your product idea can help you identify and solve design problems. In other words, the prototype is just like ‘Beta’ testing, just like the product’s final launch.
Create a digital sketch of your product using engineering software that a company can use to manufacture a prototype for your product. Depending on your product idea, you can then build a prototype yourself using household items, or you can pay a manufacturer to create a prototype of your product.
4. Choose Your Target Audience
This is where your vision gets clear. You need to choose and define your target customers and their age, location, and more things. You can not sell your product to everyone, every company chooses its target customers, and accordingly, they offer their products.
You will be better positioned to determine the channels you can market them on when you know who you are targeting.
You may want to patent the product. Seek professional help when you need to patent your product. There are two types of patents: Utility patent and design patent. Hire expert attorneys to help you with it.
New product ideas come and go, but don’t lose your passion for developing a product. Create ideas and execute them into a product.
First, make sure that your idea is indeed a great one that can make a mark in the tech marketplace.
Then get all your ducks in a row: proper market research, a foolproof business plan, a smart marketing strategy, and of course, a design patent.
On your mark…get set…go!
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Suprotik Sinha is the Content Writer with Synkrama Technologies. He writes about technologies and startups in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries 6+ years of experience in Content Writing, and he also worked in mainstream broadcast media, where he worked as a Journalist with Ibn7 ( now known as News18 India) and Zee Media in Mumbai.